Legal Question in Wills and Trusts in New York

estate taxes

in new york what amount is exempt before you must pay estate taxes


Asked on 6/10/08, 3:59 pm

2 Answers from Attorneys
Norman Nadel Norman Nadel, Esq.

Re: estate taxes

$1 million

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Answered on 6/10/08, 4:10 pm
Michael Markowitz Michael A. Markowitz, PC

Re: estate taxes

Under NY Tax section 952, "The tax imposed by this subsection shall be an amount equal to the maximum amount allowable against the federal estate tax as a credit for state death taxes under section two thousand eleven of the internal revenue code." Therefore, the amount is $1 million.

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Answered on 6/10/08, 4:38 pm


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